SENATE BILL No. 41
An Act concerning retirement and pensions; relating to the Kansas
public employees re-
tirement system; employer contributions; amending K.S.A. 1998 Supp.
repealing the existing section.
Be it enacted by the Legislature of the State of Kansas:
Section 1. K.S.A. 1998 Supp.
74-49,126 is hereby amended to read
as follows: 74-49,126. (1) Notwithstanding the provisions of
(9) of K.S.A. 74-4902 and amendments thereto, any payment for
mulated sick leave, vacation or annual leave, severance pay or any
payments to the member which, when upon retirement, increases
member's final average salary by more than 15%, shall require the
ticipating employer to pay the system a lump-sum amount equal to
system's actuarial liability for benefits attributable to and
payable on ac-
count of such excess over the 15% or require the participating
to pay the system as provided in subsection (2).
(2) In lieu of a lump-sum amount as
provided in subsection (1), such
participating employer may elect to pay the system in an amount
to amortize over a period of no more than 15 years commencing
1, 2000, the system's actuarial liability for such benefits
and payable on account of such excess over the 15%. The board
determine for each such participating employer the amount
amortization. On the basis of such determination the board shall
certify to each such participating employer separately an
termined rate of contribution which shall be required to be paid
participating employer. Such rate shall be termed the
ployer's excess liability contribution.
(2) (3) As used
in this section, ``system'' means the Kansas public
employees retirement system, the Kansas police and firemen's
system and the retirement system for judges.
Sec. 2. K.S.A. 1998 Supp. 74-49,126 is hereby
Sec. 3. This act shall take effect and be in force
from and after its
publication in the statute book.
Approved February 24, 1999.